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FINANCIAL MANAGEMENT

FINANCIAL MANAGEMENT. Not-For-Profit Clubs. PAT CHRIST CAYSA TREASURER. NON PROFIT 501 (c) (3). ALL CAYSA CLUBS MUST BE NON-PROFIT (STYSA 3.1.10 )

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FINANCIAL MANAGEMENT

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  1. FINANCIAL MANAGEMENT Not-For-Profit Clubs PAT CHRIST CAYSA TREASURER

  2. NON PROFIT 501 (c) (3) • ALL CAYSA CLUBS MUST BE NON-PROFIT (STYSA 3.1.10 ) • Each member association, club or league shall retain its own autonomy; however, each will adhere to the Constitution and Bylaws of CAYSA pertaining to all matters within CAYSA's jurisdiction. (CAYSA 1.6) • 3 A complete registration of players and adults with all fees must be submitted by date established by the Executive Committee along with the following: Most recent IRS 990 or Proof of nonprofit status; (CAYSA 3.3.3 d) • STYSA WILL ACCEPT CLUBS UNDER THEIR BLANKET

  3. NON PROFIT FILING REQUIREMENTS

  4. ACCOUNTING • you’re required to keep books and records detailing all activities, both financial and nonfinancial. Publication 4221-PC, Compliance Guide for 501(c)(3) Public Charities • Computer Based Accounting: Quicken, Quick Books, Other • Cash Basis • www. techsoup.org - QuickBooks, Microsoft, Adobe • Records open for Public Inspection • Turbotax Home & Bussiness W2’s and 1099’s • On-Line https://efile.form990.org/ free less than $100,000 gross receipts • Discussion

  5. BUDGETING • NOT REQUIRED – HIGHLY RECOMMENED • KEEP IT SIMPLE – ENOUGH DETAIL TO BE USEFUL • INCOME - EXPENSES • PRESIDENT AND TREASURE RESPONSIBLE - INVOLVE ALL • SHOULD BE USED FOR GUIDANCE ON EXPENIDITURES • ANALIZE BUGET vs ACTUAL • DISCUSSION

  6. DONATIONS • Organizations described in section 501(c)(3) are commonly referred to as charitable organizations. Organizations described in section 501(c)(3), other than testing for public safety organizations, are eligible to receive tax-deductible contributions in accordance with Code section 170. • IRS PUBLICATION 1771 (Rev. 3-2016) Charitable Contributions • Requires Written Acknowledgements for contributions of $250 or more • www.irs.gov/

  7. ACEPTTING CREDIT CARD PAYMENTS • GOTSOCCER - TSYS (Total System Services) acquired Transfirst • BANK/PAYPAL/OTHER • PCI COMPLIANT - ControlScan • The Payment Card Industry (PCI) Security Standards Council (an organization formed by the card brands) created the PCI Data Security Standard (DSS) to ensure that businesses follow best practices for protecting their customers’ credit card information. • Businesses fitting one or more of the following criteria are subject to the PCI DSS requirements: A business that accepts credit or debit cards for payment, even if using a third-party vendor’s hardware, software or application to do so

  8. FUNDS TAKE CARE OF THEM!

  9. CARE of FUNDS • WITHOUT FUNDS YOU WILL CEASE TO EXIST • TRUST BUT VERIFY • INTERNAL CONTROLS • USE THE BANK • AVOID CASH

  10. DISCUSSION

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